Kiri acquire DyStar North America1 November 2010
Kiri Holding, owner of DyStar Colours Distribution and DyStar Colours Deutschland, have acquired all the DyStar companies in the USA and Canada. The deal took effect from October 29. DyStar CEO Steve Barron: ‘I am more than happy that DyStar LP will join the DyStar Group. This allows us to further develop the DyStar business in the USA, Canada and Central America and grow our relationship with US retailers.’ Dystar are currently manufacturing many of their leather chemical ranges out of the Reidsville plant in North Carolina.
The DyStar Companies in North America were owned by Platinum Equity, USA. Headquartered in Charlotte, North Carolina, DyStar North America with its sales organisation and Color Solutions International runs also a production site and warehouse in Reidsville, North Carolina, and a warehouse in Southgate, California. The company employs 126 people. With textile dyes from DyStar and textile auxiliaries as well as leather chemicals produced in Reidsville, DyStar North America has a revenue of greater than $100 million.
For the DyStar shareholder, the acquisition makes perfect sense. Manish Kiri, Co-Chairman of the DyStar Group: ‘It is our intention to build a sustainable global DyStar organisation. For that, we need a powerful sales organisation in North and Central America and maintain the retailer connection.’